Lund-based legaltech startup Lightbringer has raised €4.2 million to develop into Europe and the US, in addition to develop their AI-powered platform that permits SMEs to guard their IPs extra successfully and effectively.
The funding spherical was led by Luminar Ventures and Alliance VC, with participation from Zenith Ventures and notable Nordic angel buyers.
Dominic Davies, founder and CEO of Lightbringer, stated: “Our platform supplies each small and huge corporations with the instruments they should construct robust patent portfolios – one thing that has beforehand been reserved for big firms with substantial assets. That is the patent service of the long run.”
Based in 2023, Lightbringer has developed an AI-driven platform that streamlines the method of securing mental property (IP) rights for SMEs.
The platform serves as a digital IP division, permitting corporations to refine patent concepts effectively and cost-effectively. By leveraging superior AI know-how, it identifies, analyses, and enhances concepts in real-time, simplifying the historically advanced and costly patenting course of.
In accordance with their web site, Lightbringer can save shoppers as much as 70% of the time spent on patent functions. Their companies embody a guided innovation journey by a complete 10-step course of, AI-supported patent utility constructing, and collaboration with skilled patent attorneys who present strategic recommendation and handle filings. The platform additionally contains a collaborative workspace for staff efforts, utility progress monitoring, and assist for securing international safety throughout a number of jurisdictions.
This technological method is complemented by knowledgeable patent attorneys who guarantee the ultimate high quality meets skilled requirements.
The worldwide patent business is valued at over €90 billion, but SMEs and startups usually discover patent safety prohibitively pricey and sophisticated. Lightbringer goals to deal with this hole by offering accessible and environment friendly IP options tailor-made to the wants of smaller enterprises.
The current funding will assist Lightbringer’s growth into European and U.S. markets, enabling extra SMEs to guard their improvements successfully.
Daniel Karsberg, companion at Luminar Ventures, commented on the funding: “In an age the place synthetic intelligence can analyse tens of millions of paperwork in seconds, we’re nonetheless processing patents like we’re studying them by candlelight. The system isn’t simply prepared for disruption – it’s begging for it.”
The subscription mannequin was launched in Could 2024, aiding in Lightbringer’s fast progress and introduction of a number of new key options geared toward serving to shoppers assist and develop their concepts.